Azunko Holding LLC has won the tender, for the sale of Moscow Hotel in Baku, announced by State Committee for Management of the Public Property.
Azinko Holding undertook to invest $154m in the Hotel in four years. The Moscow Hotel will be replaced by a 37-storied hotel.
The hotel will boast 500 rooms, sport, health and business centers, offices, clubs and banquet halls, game halls, restaurants, 50 garages.
After 4-year investment program the hotel will provide 300 new jobs with average payment of AZN 300.
Besides, the hotel will give aid to Internally Displaced people, refugees, veterans and offer privileges for students, veterans and others. /APA/
37-storied hotel to replace Moscow Hotel
02 November 2006 14:22 (UTC +04:00)
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